26 July 2016

Tagetik Announces Profitable Quarter; Recent Expansion Investments Paying Off with Record Revenues and Major Client Wins

Second quarter sees continued cloud expansion and revenue growth in North America, DACH, and Asia-Pacific regions

Tagetik, a visionary leader in global performance management software solutions, announced today a profitable second quarter for 2016 and the addition of 40 new corporate customers. The quarter also saw continued revenue growth in North America and record revenues for two new Tagetik operations in the DACH and Asia-Pacific regions.

Serving Germany, Austria, and Switzerland, Tagetik GmbH led revenues for Tagetik’s regional operations. Among its second quarter wins were an expanded enterprise agreement with a major German multi-national automotive corporation and a new customer agreement with a major multi-national provider of products and systems to the construction and energy industries. Tagetik’s Asia-Pacific operation doubled its revenues for the first half of 2016 compared to those from the same period in 2015 and signed an agreement with its first Japanese corporate customer, a provider of consulting and facility management services for customers throughout Asia-Pacific.

“We’re very pleased with second quarter results. Our cloud business continues to grow and investments in North America and other regions are paying off with increased revenue and market share,” said Manuel Vellutini, Tagetik co-CEO. “Additionally, the recent Brexit vote is generating heightened interest in our solution’s ability to support sophisticated planning and forecasting. Our sustained profitability allows us to make the ongoing research and development investments needed to stay ahead of volatile market conditions and the needs of our customers.”

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